LOS ANGELES (MarketWatch) -- Hong Kong stocks rose Monday in early action just as government data showed consumer prices rose 3% in November, lower than the 3.1% increase projected by analysts polled by Wall Street Journal. The Hang Seng Index (HK:HSI) rose 172 points, or 0.7%, to 23,916.40, and the Hang Seng China Enterprises Index popped 1.1% higher. Financial shares gained, with Agricultural Bank of China Ltd. (HK:1288) (CN:601288) (ACGBF) tacking on 1% and China Merchants Bank Co. shares (HK:3968) (CIHHF) (CN:600036) higher by 1.1%. Shares of HSBC Holdings PLC (HK:5) trailed the sector, slipping 0.1% after a Financial Times report that HSBC has asked investors if they would support a float of its U.K. unit, with the inquiries coming ahead of new regulation related to U.K. retail- banking operations. HSBC's preliminary plan would be to list a minority stake of up to 30% in the retail and commercial banking arm, according to the report. Standard Chartered PLC shares (HK:2888) (UK:STAN) , meanwhile, rose 0.6% following a report from The Independent newspaper that the bank's board is divided over whether there's a need for a rights issue to strengthen its balance sheet. Last week, the lender warned that its operating profit will decline for the first time in a decade because of difficult market conditions. Outstripping the broader market's performance, shares of Haier Electronics Group Co. (HK:1169) (HRELF) rallied 17% as the appliance maker received a capital injection of 1.86 billion Hong Kong dollars ($239.8 million) from e-commerce company Alibaba Group Ltd. in an effort to bolster Haier's logistics business. On the mainland, the Shanghai Composite (CN:SHCOMP) edged up 0.1%.
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